Federal Tax News for Businesses
1. Court: Farmers Are Partially Allowed Depreciation Write-offs If you’re a business owner hoping to deduct asset depreciation from your gross income, it’s crucial to…
Succession Planning Considerations for Construction Business Owners
Construction company owners are great at completing projects, but many struggle to properly build a succession plan. Even if your retirement is decades away, it’s…
Employers Should be Wary of ERC Claims That Are Too Good to be True
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic.…
The Standard Business Mileage Rate is Going Up in 2023
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the…
2023 Tax Calendar
To help you make sure you don’t miss any important 2023 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions…
Year-End Spending Package Tackles Retirement Planning, Conservation Easements
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect…